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OPEC surprises with deeper oil cut

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OPEC agreed on Friday to curb its output by 1.2 million barrels per day, its first cut for more than two years, to halt a precipitous fall in prices. The reduction, amounting to 4.3 percent of OPEC's September production, was deeper than anticipated and the biggest since January 2002. It trims OPEC output to 26.3 million bpd from November 1.

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At today.reuters.com

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